Geode Capital Management LLC Acquires 1,487,849 Shares of ImmunityBio, Inc. $IBRX

Geode Capital Management LLC boosted its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 34.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,777,269 shares of the company’s stock after purchasing an additional 1,487,849 shares during the period. Geode Capital Management LLC owned approximately 0.65% of ImmunityBio worth $15,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in IBRX. Plancorp LLC bought a new stake in ImmunityBio in the 2nd quarter worth $717,000. Swiss National Bank lifted its stake in shares of ImmunityBio by 49.8% in the 1st quarter. Swiss National Bank now owns 410,400 shares of the company’s stock valued at $1,235,000 after purchasing an additional 136,400 shares during the period. Nuveen LLC bought a new stake in shares of ImmunityBio during the 1st quarter valued at $1,083,000. Vanguard Group Inc. boosted its stake in ImmunityBio by 17.4% during the first quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company’s stock worth $61,237,000 after acquiring an additional 3,016,325 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter worth approximately $70,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Trading Down 2.5%

Shares of IBRX stock opened at $2.30 on Tuesday. ImmunityBio, Inc. has a 12-month low of $1.83 and a 12-month high of $5.13. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -5.61 and a beta of 0.29. The stock has a 50 day simple moving average of $2.34 and a 200-day simple moving average of $2.55.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $32.06 million during the quarter, compared to analyst estimates of $31.88 million. On average, equities analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. D. Boral Capital restated a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, November 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a report on Wednesday, September 10th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.